In some areas the price increased by 0.5-0.7 yuan [0.07-0.10 USD] per 0.5 kg

Chinese apple prices increase - room for further growth

The surge in apple prices has recently spread through all Chinese apple orchards. The price increased by around 0.3 yuan [0.04 USD] per 0.5 kg in comparison with earlier this season. Apple farmers, traders, and owners of refrigerated warehouses did not expect this development. Traders rushed the warehouses to secure their supply of apples. The owners of warehouses have accelerated the speed of sales. Top-quality apples are particularly sought after. The trade price of apples visibly increased.

The apple price is expected to continue this development, but the price increase is not that large. There are several reasons for this trend. First, the sales volume was relatively small last winter. Warehouse owners kept their apples in storage until the new year. Although the outbreak of the corona virus affected the apple market, government support helped to maintain price stability.

Second, this is a relatively 'small' year for apple trees. The apple harvest is not as big as last year. However, the individual product quality improved. The apple price therefore increased. This is particularly true for apples that will ripen this year before National Day [1 October, 2020].

Third, the cost price of refrigerated storage went up in the last three or four months. Traders have therefore raised their prices as well. Furthermore, online shops are resuming business and the number of consumers who buy apples is also growing. This has a stimulating effect on the apple price as well.

Fourth, the COVID-19 pandemic has brought to attention how important top-quality, healthy fruit is. Apple farmers are paying more attention to the management of their apple trees. The most important aim for farmers is to plant trees in good earth and grow top-quality apples. Farmers are therefore going down the road of "specialization" to make sure the product quality of their apples stands out in the market.

Source: ifreshfair.com


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